The Texas Department of Insurance Division of Workers’ Compensation announced it has determined that any interest or discount provided for in the Texas Workers’ Compensation Act shall be at the rate of 8.53 percent during the fourth quarter of 2006.
This rate is computed by using the treasury constant maturity rate for one-year treasury bills issued by the United States Government, as published by the Federal Reserve Board on Sept. 16, 2006 (5.03 percent) plus 3.5 percent.
The rate is effective October 1, 2006, through Dec. 31, 2006.
For more information, call Matt Jung at 512-322-4322 regarding rate calculation or Robert Brown at 512-804-4079 regarding application of the rate.
Source: Texas DWC
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